Unilever 2012 Annual Report Download - page 130

ABOUT UNILEVER GOVERNANCE FINANCIAL STATEMENTS SHAREHOLDER INFORMATION
127Unilever Annual Report and Accounts 2012 Financial statements
21 Acqustons and dsposals continued
2012 acqustons and dsposals
On 30 July 2012 the Group announced a definitive agreement to sell its North America frozen meals business to ConAgra Foods, Inc.
for a total cash consideration of US$265 million. The deal was completed on 19 August 2012.
Further to the acquisition in December 2011, the Group acquired the remaining 18% of the outstanding share capital in Concern Kalina.
2011
On 24 September 2010 the Group announced a definitive agreement to sell our consumer tomato products business in Brazil to Cargill
for approximately R$600 million. The deal was completed on 1 March 2011.
On 28 September 2010 the Group announced an agreement to buy EVGA’s ice cream brands and distribution network in Greece for
an undisclosed sum. The deal was completed on 27 January 2011.
On 23 March 2011 the Group announced a binding agreement to sell the global Sanex business to Colgate-Palmolive for €672 million.
The deal was completed on 20 June 2011.
On 23 March 2011 the Group announced a binding agreement to buy the Colombian Laundry business from Colgate-Palmolive for
US$215million. The deal was completed on 29 July 2011.
On 10 May 2011 the Group completed the purchase of 100% of Alberto Culver at a consideration of €2,689 million in cash.
The disposal of Simple Soap in the UK, the Republic of Ireland and the Channel Islands and the Cidal and Wright’s brands worldwide
was completed on 30 June 2011.
On 24 August 2011 the Group announced a definitive agreement to sell the Alberto VO5 brand in the United States and Puerto Rico from
the Alberto Culver portfolio and the Rave brand globally from the Unilever portfolio to private equity firm Brynwood Partners VI L.P.
for an undisclosed sum. The deal was completed on 31 August 2011
On 1 December 2011 the Group completed the sale of Culver Specialty Brands division to B&G Foods, Inc. for €240 million.
On 6 December 2011 the Group completed the acquisition of 82% of the outstanding shares of Concern Kalina, one of Russia’s leading local
personal care companies.
On 20 December 2011 the Group completed the acquisition of Ingman Ice Cream for an undisclosed sum.
The table below shows the impact of disposals on the Group during the year. The results of disposed businesses are included in the
consolidated financial statements up to their date of disposal.
Dsposals
 mllon
2012
€ million
2011
€ million
2010
Goodwill and intangible assets 29 1,058 223
Other non-current assets 35 81 105
Current assets 38 145 151
Trade creditors and other payables (2) (57) (51)
Provisions for liabilities and charges – (12) (17)
Net assets sold 100 1,215 411
(Gain)/loss on recycling of currency retranslation on disposal – (61) 1
Profit on sale attributable to Unilever 117 221 467
Consideration 217 1,375 879
Cash 229 1,404 891
Cash balances of businesses sold –(2) 1
Financial assets, cash deposits and financial liabilities of businesses sold (9) (6) (14)
Non-cash items and deferred consideration (3) (21) 1
The following table sets out the effect of acquisitions in 2012, 2011 and 2010 on the consolidated balance sheet. The fair values currently
established for all acquisitions made in 2012 are provisional. The goodwill arising on these transactions has been capitalised and is subject
to an annual review for impairment (or more frequently if necessary) in accordance with our accounting policies as set out in note 9 on page
106. Any impairment is charged to the income statement as it arises. Detailed information relating to goodwill is given in note 9 on pages 106
and 107.
Acqustons
 mllon
2012
€ million
2011
€ million
2010
Net assets acquired 10 1,733 1,262
Goodwill arising in subsidiaries 10 1,677 225
Consideration 20 3,410 1,487